DROPBOX INC-CLASS A (DBX) Stock Fundamental Analysis

USA • Nasdaq • NASDAQ:DBX • US26210C1045

25 USD
+0.56 (+2.29%)
At close: Feb 6, 2026
25.08 USD
+0.08 (+0.32%)
After Hours: 2/6/2026, 5:30:25 PM
Fundamental Rating

6

We assign a fundamental rating of 6 out of 10 to DBX. DBX was compared to 278 industry peers in the Software industry. While DBX belongs to the best of the industry regarding profitability, there are concerns on its financial health. DBX scores decently on growth, while it is valued quite cheap. This could make an interesting combination.


Dividend Valuation Growth Profitability Health

9

1. Profitability

1.1 Basic Checks

  • In the past year DBX was profitable.
  • In the past year DBX had a positive cash flow from operations.
  • DBX had positive earnings in 4 of the past 5 years.
  • Each year in the past 5 years DBX had a positive operating cash flow.
DBX Yearly Net Income VS EBIT VS OCF VS FCFDBX Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 200M -200M 400M -400M 600M 800M

1.2 Ratios

  • DBX's Return On Assets of 17.97% is amongst the best of the industry. DBX outperforms 93.88% of its industry peers.
  • DBX has a Return On Invested Capital of 59.34%. This is amongst the best in the industry. DBX outperforms 99.64% of its industry peers.
  • The Average Return On Invested Capital over the past 3 years for DBX is significantly above the industry average of 10.78%.
  • The last Return On Invested Capital (59.34%) for DBX is above the 3 year average (17.97%), which is a sign of increasing profitability.
Industry RankSector Rank
ROA 17.97%
ROE N/A
ROIC 59.34%
ROA(3y)15.53%
ROA(5y)9.34%
ROE(3y)N/A
ROE(5y)N/A
ROIC(3y)17.97%
ROIC(5y)15.1%
DBX Yearly ROA, ROE, ROICDBX Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 -50 -100 -150 -200 -250

1.3 Margins

  • DBX has a Profit Margin of 19.87%. This is amongst the best in the industry. DBX outperforms 83.45% of its industry peers.
  • DBX's Profit Margin has improved in the last couple of years.
  • DBX's Operating Margin of 24.57% is amongst the best of the industry. DBX outperforms 89.57% of its industry peers.
  • In the last couple of years the Operating Margin of DBX has grown nicely.
  • Looking at the Gross Margin, with a value of 80.66%, DBX belongs to the top of the industry, outperforming 82.01% of the companies in the same industry.
  • DBX's Gross Margin has improved in the last couple of years.
Industry RankSector Rank
OM 24.57%
PM (TTM) 19.87%
GM 80.66%
OM growth 3Y10.3%
OM growth 5YN/A
PM growth 3Y4.48%
PM growth 5YN/A
GM growth 3Y1.29%
GM growth 5Y1.86%
DBX Yearly Profit, Operating, Gross MarginsDBX Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 20 -20 40 60 80

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ROAROEROICOperating and Profit MarginShow most profitable peers

3

2. Health

2.1 Basic Checks

  • With a Return on Invested Capital (ROIC) well above the Cost of Capital (WACC), DBX is creating value.
  • DBX has less shares outstanding than it did 1 year ago.
  • Compared to 5 years ago, DBX has less shares outstanding
  • DBX has a worse debt/assets ratio than last year.
DBX Yearly Shares OutstandingDBX Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 100M 200M 300M 400M
DBX Yearly Total Debt VS Total AssetsDBX Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 1B 2B 3B

2.2 Solvency

  • DBX has an Altman-Z score of 0.34. This is a bad value and indicates that DBX is not financially healthy and even has some risk of bankruptcy.
  • The Altman-Z score of DBX (0.34) is worse than 67.63% of its industry peers.
  • DBX has a debt to FCF ratio of 3.10. This is a good value and a sign of high solvency as DBX would need 3.10 years to pay back of all of its debts.
  • The Debt to FCF ratio of DBX (3.10) is better than 63.67% of its industry peers.
Industry RankSector Rank
Debt/Equity N/A
Debt/FCF 3.1
Altman-Z 0.34
ROIC/WACC6.01
WACC9.88%
DBX Yearly LT Debt VS Equity VS FCFDBX Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 1B 2B

2.3 Liquidity

  • A Current Ratio of 0.57 indicates that DBX may have some problems paying its short term obligations.
  • The Current ratio of DBX (0.57) is worse than 92.09% of its industry peers.
  • DBX has a Quick Ratio of 0.57. This is a bad value and indicates that DBX is not financially healthy enough and could expect problems in meeting its short term obligations.
  • Looking at the Quick ratio, with a value of 0.57, DBX is doing worse than 91.73% of the companies in the same industry.
Industry RankSector Rank
Current Ratio 0.57
Quick Ratio 0.57
DBX Yearly Current Assets VS Current LiabilitesDBX Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 500M 1B 1.5B

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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

4

3. Growth

3.1 Past

  • The Earnings Per Share has grown by an impressive 26.32% over the past year.
  • The Earnings Per Share has been growing by 38.64% on average over the past years. This is a very strong growth
  • DBX shows a decrease in Revenue. In the last year, the revenue decreased by -0.44%.
  • Measured over the past years, DBX shows a quite strong growth in Revenue. The Revenue has been growing by 8.93% on average per year.
EPS 1Y (TTM)26.32%
EPS 3Y17.94%
EPS 5Y38.64%
EPS Q2Q%23.33%
Revenue 1Y (TTM)-0.44%
Revenue growth 3Y5.7%
Revenue growth 5Y8.93%
Sales Q2Q%-0.69%

3.2 Future

  • Based on estimates for the next years, DBX will show a small growth in Earnings Per Share. The EPS will grow by 2.92% on average per year.
  • DBX is expected to show a decrease in Revenue. In the coming years, the Revenue will decrease by -1.17% yearly.
EPS Next Y13.95%
EPS Next 2Y10.56%
EPS Next 3Y9.38%
EPS Next 5Y2.92%
Revenue Next Year-1.17%
Revenue Next 2Y-0.9%
Revenue Next 3Y-0.81%
Revenue Next 5Y-1.17%

3.3 Evolution

  • When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
  • When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
DBX Yearly Revenue VS EstimatesDBX Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2017 2019 2021 2023 2025 2027 2029 2031 2033 500M 1B 1.5B 2B 2.5B
DBX Yearly EPS VS EstimatesDBX Yearly EPS VS EstimatesYearly EPS VS Estimates 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 1 2 3

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Find the best growth stocksShow best growing peers

9

4. Valuation

4.1 Price/Earnings Ratio

  • The Price/Earnings ratio is 8.68, which indicates a very decent valuation of DBX.
  • DBX's Price/Earnings ratio is rather cheap when compared to the industry. DBX is cheaper than 90.29% of the companies in the same industry.
  • DBX is valuated cheaply when we compare the Price/Earnings ratio to 27.92, which is the current average of the S&P500 Index.
  • Based on the Price/Forward Earnings ratio of 8.15, the valuation of DBX can be described as reasonable.
  • 88.85% of the companies in the same industry are more expensive than DBX, based on the Price/Forward Earnings ratio.
  • DBX's Price/Forward Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 27.78.
Industry RankSector Rank
PE 8.68
Fwd PE 8.15
DBX Price Earnings VS Forward Price EarningsDBX Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30 40

4.2 Price Multiples

  • 86.33% of the companies in the same industry are more expensive than DBX, based on the Enterprise Value to EBITDA ratio.
  • Compared to the rest of the industry, the Price/Free Cash Flow ratio of DBX indicates a rather cheap valuation: DBX is cheaper than 94.96% of the companies listed in the same industry.
Industry RankSector Rank
P/FCF 7.06
EV/EBITDA 10.36
DBX Per share dataDBX EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 5 -5

4.3 Compensation for Growth

  • DBX's low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
  • The excellent profitability rating of DBX may justify a higher PE ratio.
PEG (NY)0.62
PEG (5Y)0.22
EPS Next 2Y10.56%
EPS Next 3Y9.38%

More info and screens

Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

0

5. Dividend

5.1 Amount

  • No dividends for DBX!.
Industry RankSector Rank
Dividend Yield 0%

More info and screens

Find the best dividend stocksShow peers with best dividend

DROPBOX INC-CLASS A

NASDAQ:DBX (2/6/2026, 5:30:25 PM)

After market: 25.08 +0.08 (+0.32%)

25

+0.56 (+2.29%)

Chartmill FA Rating
GICS IndustryGroupSoftware & Services
GICS IndustrySoftware
Earnings (Last)11-06
Earnings (Next)02-19
Inst Owners111.56%
Inst Owner Change-1.76%
Ins Owners6.13%
Ins Owner Change3.08%
Market Cap6.47B
Revenue(TTM)2.53B
Net Income(TTM)502.50M
Analysts50
Price Target29.16 (16.64%)
Short Float %18.1%
Short Ratio8.69
Dividend
Industry RankSector Rank
Dividend Yield 0%
Yearly DividendN/A
Dividend Growth(5Y)N/A
DPN/A
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)12.22%
Min EPS beat(2)11.32%
Max EPS beat(2)13.12%
EPS beat(4)4
Avg EPS beat(4)12.9%
Min EPS beat(4)11.32%
Max EPS beat(4)15.74%
EPS beat(8)8
Avg EPS beat(8)11.94%
EPS beat(12)12
Avg EPS beat(12)11.32%
EPS beat(16)16
Avg EPS beat(16)10.18%
Revenue beat(2)2
Avg Revenue beat(2)0.45%
Min Revenue beat(2)0.16%
Max Revenue beat(2)0.74%
Revenue beat(4)2
Avg Revenue beat(4)0.1%
Min Revenue beat(4)-0.26%
Max Revenue beat(4)0.74%
Revenue beat(8)2
Avg Revenue beat(8)-0.19%
Revenue beat(12)4
Avg Revenue beat(12)-0.08%
Revenue beat(16)5
Avg Revenue beat(16)-0.11%
PT rev (1m)1.14%
PT rev (3m)2.98%
EPS NQ rev (1m)1%
EPS NQ rev (3m)4.82%
EPS NY rev (1m)0.23%
EPS NY rev (3m)4.7%
Revenue NQ rev (1m)0.26%
Revenue NQ rev (3m)1.07%
Revenue NY rev (1m)0.04%
Revenue NY rev (3m)0.67%
Valuation
Industry RankSector Rank
PE 8.68
Fwd PE 8.15
P/S 2.56
P/FCF 7.06
P/OCF 6.95
P/B N/A
P/tB N/A
EV/EBITDA 10.36
EPS(TTM)2.88
EY11.52%
EPS(NY)3.07
Fwd EY12.27%
FCF(TTM)3.54
FCFY14.16%
OCF(TTM)3.6
OCFY14.38%
SpS9.77
BVpS-5.92
TBVpS-7.83
PEG (NY)0.62
PEG (5Y)0.22
Graham NumberN/A
Profitability
Industry RankSector Rank
ROA 17.97%
ROE N/A
ROCE 69.59%
ROIC 59.34%
ROICexc N/A
ROICexgc N/A
OM 24.57%
PM (TTM) 19.87%
GM 80.66%
FCFM 36.22%
ROA(3y)15.53%
ROA(5y)9.34%
ROE(3y)N/A
ROE(5y)N/A
ROIC(3y)17.97%
ROIC(5y)15.1%
ROICexc(3y)69.99%
ROICexc(5y)80.12%
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)21.07%
ROCE(5y)17.71%
ROICexgc growth 3YN/A
ROICexgc growth 5YN/A
ROICexc growth 3Y-15.6%
ROICexc growth 5YN/A
OM growth 3Y10.3%
OM growth 5YN/A
PM growth 3Y4.48%
PM growth 5YN/A
GM growth 3Y1.29%
GM growth 5Y1.86%
F-Score4
Asset Turnover0.9
Health
Industry RankSector Rank
Debt/Equity N/A
Debt/FCF 3.1
Debt/EBITDA 2.57
Cap/Depr 9.3%
Cap/Sales 0.57%
Interest Coverage 250
Cash Conversion 119.86%
Profit Quality 182.25%
Current Ratio 0.57
Quick Ratio 0.57
Altman-Z 0.34
F-Score4
WACC9.88%
ROIC/WACC6.01
Cap/Depr(3y)17.74%
Cap/Depr(5y)24.54%
Cap/Sales(3y)1.13%
Cap/Sales(5y)1.78%
Profit Quality(3y)165.94%
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)26.32%
EPS 3Y17.94%
EPS 5Y38.64%
EPS Q2Q%23.33%
EPS Next Y13.95%
EPS Next 2Y10.56%
EPS Next 3Y9.38%
EPS Next 5Y2.92%
Revenue 1Y (TTM)-0.44%
Revenue growth 3Y5.7%
Revenue growth 5Y8.93%
Sales Q2Q%-0.69%
Revenue Next Year-1.17%
Revenue Next 2Y-0.9%
Revenue Next 3Y-0.81%
Revenue Next 5Y-1.17%
EBIT growth 1Y22.21%
EBIT growth 3Y16.58%
EBIT growth 5YN/A
EBIT Next Year27.77%
EBIT Next 3Y7.56%
EBIT Next 5Y8.46%
FCF growth 1Y22.16%
FCF growth 3Y7.53%
FCF growth 5Y17.4%
OCF growth 1Y19.56%
OCF growth 3Y7%
OCF growth 5Y11.09%

DROPBOX INC-CLASS A / DBX FAQ

What is the ChartMill fundamental rating of DROPBOX INC-CLASS A (DBX) stock?

ChartMill assigns a fundamental rating of 6 / 10 to DBX.


Can you provide the valuation status for DROPBOX INC-CLASS A?

ChartMill assigns a valuation rating of 9 / 10 to DROPBOX INC-CLASS A (DBX). This can be considered as Undervalued.


Can you provide the profitability details for DROPBOX INC-CLASS A?

DROPBOX INC-CLASS A (DBX) has a profitability rating of 9 / 10.


What is the expected EPS growth for DROPBOX INC-CLASS A (DBX) stock?

The Earnings per Share (EPS) of DROPBOX INC-CLASS A (DBX) is expected to grow by 13.95% in the next year.